10月10日午后，恒生科技指数跌幅持续拉大，跌超2.5%。主流ETF方面，A股同赛道规模最大的恒生科 技指数ETF（513180）跟随指数下跌近2.5%，持仓股中，中芯国际、百度集团、华虹、快手、阿里巴 巴、蔚来、金山软件等领跌。 该机构预计四季度港股走势或先抑后扬，恒生指数波动区间介于24800-27800点，国企指数波动区间介 于8600-9900点，科技指数介于5800-6800点。建议四季度逢低吸纳，采取攻守平衡的哑铃型配置并逐步 加强进攻。 截至10月9日，恒生科技指数ETF（513180）标的指数的最新估值（PETTM）为24.63倍，处于指数2020 年7月27日发布以来约36.72%的估值分位点，仍处于历史相对低估区间，而高弹性、高成长等特性使其 具备更大的向上动能。没有港股通账户的投资者或可通过恒生科技指数ETF（513180）一键布局中国AI 核心资产。（场外联接A/C：013402/013403） （文章来源：每日经济新闻） 建银国际指出，随着三季度恒指突破并站稳25000点关键分水岭，港股一二级市场良性循环进一步强 化，牛市格局已基本确立，港股投资逻辑由估值修复向基于新质生产力和高质量 ...

国泰海通在节前研报中指出，基本面预期回暖+资金面持续改善，四季度港股或仍有新高。展望四季 度，在多重利好因素共振催化下，低估港股仍有望继续创年内新高。一方面，互联网叙事转向"AI赋 能"叠加政策加码，港股基本面预期有望回暖。另一方面，外资超预期回流叠加南向资金持续流入，强 化港股增量资金市场。结构上，受益AI周期的港股科技或是行情主线。此外，港股红利受益于政策强 化分红+低利率，港股新消费、创新药资产较A股同样稀缺，下半年或也值得关注。 国庆假期前后，资金抢筹港股科技板块热情不减。公开信息显示，截至10月9日，恒生科技指数ETF （513180）已连续3个交易日获资金净流入，合计净流入金额达8237万元。没有港股通账户的投资者或 可通过恒生科技指数ETF（513180）一键布局中国AI核心资产。 10月10日早盘，港股三大指数集体低开。开盘后，恒生科技指数一度跌超2%，A股同赛道规模最大的 恒生科技指数ETF（513180）跟随指数震荡，持仓股中，携程集团等少数公司上涨，中芯国际、小鹏汽 车、蔚来、华虹半导体、百度集团、阿里巴巴、快手等领跌。 ...

Group 1 - The core viewpoint of the articles indicates that the Hong Kong stock market is experiencing mixed performance, with the Hang Seng Technology Index showing volatility influenced by semiconductor stocks and tech companies like Bilibili seeing significant gains [1] - Citic Securities highlights that abundant liquidity combined with ongoing investments and innovations in AI are driving the momentum in the Hong Kong stock market [1] - The correlation between the Hong Kong stock market and U.S. indices like the S&P 500 and Russell 2000 has increased, reflecting the impact of expectations surrounding AI innovation and investment [1] Group 2 - Citic Jin Investment believes that the AI industry will continue to lead the rapid development of related technology sectors in China, positively affecting both A-shares and Hong Kong tech stocks [1] - Huatai Securities emphasizes that the broader technology sector remains a clear structural theme, focusing on low-positioned segments such as Hong Kong technology stocks [1] - The Hang Seng Technology Index ETF (513180) provides an accessible option for investors without a Hong Kong stock connect account to invest in core Chinese AI assets [1]

Core Insights - The Hang Seng Technology Index ETF (513180) experienced a significant increase of 13.32% in September, reaching a nearly four-year high, driven by catalysts such as AI and chips [1] - The Hang Seng Pharmaceutical ETF (159892) also saw a modest rise of 4.47% in September, marking an impressive year-to-date increase of 98.96%, positioning it among the top performers in the ETF market [1] - Dongwu Securities suggests that the anticipated interest rate cuts by the Federal Reserve may not fully exhaust the positive impacts, indicating a potential influx of global capital into the stock market, with some interest in Chinese assets [1] Market Outlook - Future growth in the Hong Kong stock market is expected to rely on positive developments in the industrial sector, with a focus on sectors experiencing high demand and global supply chain resonance [1] - Structural market trends indicate that the primary drivers for future increases in Hong Kong stocks will stem from favorable news related to industry performance [1]

Core Insights - The Hong Kong stock market remains robust, with the Hang Seng Tech Index rising over 1% on the last trading day before the National Day holiday [1] - Southbound capital continues to flow into the Hong Kong stock market, enhancing marginal pricing power [1] Group 1: Market Performance - The Hang Seng Tech Index ETF (513180) and the Hong Kong Stock Connect Tech ETF (159101) both saw increases in line with the index [1] - Leading stocks included Hua Hong Semiconductor, Sunny Optical Technology, and SMIC, with Alibaba rising over 2% during the trading session [1] Group 2: Market Schedule - The Hong Kong stock market will be closed on October 1 (National Day), October 4-5 (Saturday and Sunday), and October 7 (the day after Mid-Autumn Festival), with regular trading resuming on other dates [1] - The Shanghai-Hong Kong Stock Connect will be suspended from October 1-8, resuming operations on October 9 (Thursday) [1] Group 3: Investment Trends - According to Changjiang Securities, the increasing weight of domestic low-interest rates in the ERP model may lead to more capital allocation towards the Hong Kong stock market [1] - The Hang Seng Tech Index ETF (513180) offers a balanced exposure to the Hong Kong tech sector, including AI, chips, and new energy vehicles [2] - The Hong Kong Stock Connect Tech ETF (159101) focuses heavily on leading companies, with Tencent, Alibaba, and Xiaomi accounting for over 44% of its weight [2]

Group 1 - The Hong Kong stock market indices collectively declined on September 26, with technology stocks experiencing a broad downturn, while wind power stocks strengthened and real estate stocks generally rose [2] - Xpeng Motors signed a post-quantum security technology cooperation agreement with Alibaba Cloud at the Cloud Summit, focusing on joint research and development in automotive security algorithms [2] - The cooperation aims to expand post-quantum security encryption technology applications to AI, V2X, robotics, and flying cars, enhancing safety and reliability for users [2] Group 2 - Alibaba's stock price has doubled this year, making it the largest weighted stock in the Hang Seng Technology Index with a weight of 9.17% [3] - The potential for a revaluation of the Hang Seng Technology Index is anticipated due to the resumption of interest rate cuts by the Federal Reserve and continued inflow of southbound capital [3] - Investors without a Hong Kong Stock Connect account may consider using the Hang Seng Technology Index ETF (513180) to gain exposure to core AI assets in China [3]

Group 1 - The Hong Kong stock market indices collectively declined on September 26, with technology stocks experiencing significant drops while wind power stocks strengthened [1] - Xiaomi's new smartphone series, the Xiaomi 17, was launched with starting prices of 4499 yuan for the base model and up to 5999 yuan for the ProMax version, featuring the fifth-generation Snapdragon 8 chip [1] - Xiaomi's CEO Lei Jun emphasized the importance of self-developed chips for the company's success, committing to invest at least 50 billion yuan over the next decade [1] Group 2 - Alibaba's stock price has doubled this year, making it the largest weighted stock in the Hang Seng Tech Index at 9.17% [2] - The market outlook is optimistic due to potential interest rate cuts by the Federal Reserve and continued inflow of southbound capital, which may lead to a revaluation of the Hang Seng Tech Index [2] - Investors without access to Hong Kong Stock Connect accounts can consider the Hang Seng Tech Index ETF (513180) to gain exposure to core AI assets in China [2]

Group 1 - The Hong Kong stock market indices collectively declined on September 26, with the Hang Seng Tech Index ETF falling over 1% [1] - Xiaomi Group's stock dropped over 5% following its press conference, while Hua Hong Semiconductor's stock reached a new high in the morning and maintained a rise of over 5% in the afternoon [1] - Huatai Securities forecasts that global semiconductor equipment revenue will grow by 8% year-on-year to $153 billion by 2026, with the Chinese market size at $49 billion, showing near flat year-on-year growth [1] Group 2 - The firm anticipates that AI-related advanced logic and storage will remain the main drivers of capital expenditure overseas, and it is optimistic about continued investment in advanced logic and storage in China by 2026 [1] - Recent fundraising by SMIC and Hua Hong, along with Changxin's initiation of listing guidance, indicates a positive outlook for domestic equipment progress, with a projected increase in the domestic equipment market share by 6 percentage points to 29% by 2026 [1] Group 3 - Alibaba's 2025 Cloud Summit has sparked bullish sentiment, suggesting that the Hang Seng Tech Index may break upward again [1] - The expectation of a Federal Reserve interest rate cut and continued inflow of southbound funds could catalyze a valuation reconstruction for the Hang Seng Tech Index, supported by both domestic and foreign capital [1] - Alibaba's stock has doubled this year, making it the largest weighted stock in the Hang Seng Tech Index with a weight of 9.17% [1]

Group 1 - The Hong Kong stock market experienced a collective decline, with the Hang Seng Technology Index dropping over 1% and tech stocks generally falling, while semiconductor stocks showed activity and some new energy vehicle manufacturers saw gains [1] - The Hang Seng Technology Index ETF (513180) followed the index's downward trend, with major holdings like Horizon Robotics, Xiaomi Group, and Kingsoft leading the losses, while Huahong Semiconductor, Xpeng Motors, NIO, and BYD saw significant gains, with Huahong Semiconductor rising over 9% to reach a new high of 72.4 HKD [1] - Huahong Semiconductor announced a restructuring with Huali Micro to address competition issues related to its IPO commitments, which will enhance its 12-inch wafer foundry capacity and provide comprehensive technical solutions for various applications [1] Group 2 - Goldman Sachs reported that Huahong's product average price has been declining since Q1 2023 due to increased capacity in mature processes and slowing terminal market growth, but price negotiations with clients are expected to reflect positively in Q3 2025 [2] - The report indicates that while short-term price increases may be limited, there are positive signals for supply-demand improvement, with expectations for gradual and sustainable price increases in the future as major terminal markets have completed inventory adjustments [2] - The Alibaba 2025 Cloud Summit has sparked bullish sentiment, with expectations for the Hang Seng Technology Index to break upward again, supported by potential Fed rate cuts and continued inflows from southbound funds, indicating a possible revaluation of the index [2]

Group 1 - The Hong Kong stock market indices collectively declined, with the Hang Seng Tech Index dropping over 1%, impacting major stocks like Horizon Robotics, Xiaomi, Kingsoft, and JD Health [1] - XPeng Motors accelerated its global expansion by entering five new markets: Switzerland, Austria, Hungary, Slovenia, and Croatia, planning to launch pop-up stores in Budapest, Ljubljana, and Zagreb this fall [1] - Zhongtai Securities remains optimistic about investment opportunities in complete vehicles and intelligent driving, focusing on strong domestic brands and the robotics industry chain [1] Group 2 - Alibaba's Cloud Summit ignited bullish sentiment, with expectations for the Hang Seng Tech Index to break upward again, supported by potential Fed rate cuts and continued inflow of southbound capital [2] - Alibaba's stock price has doubled this year, making it the largest weighted stock in the Hang Seng Tech Index at 9.36% [2] - Investors without a Hong Kong Stock Connect account can access Chinese AI core assets through the Hang Seng Tech Index ETF [2]